The Income Support (General) (Standard Interest Rate Amendment) (No. 2) Regulations 2001

• Citation: S.I. 2001/2676
• Sections: 3

Section 1 Citation, commencement and interpretation

(1) These Regulations shall be cited as the Income Support (General)(Standard Interest Rate Amendment)(No. 2) Regulations 2001 and shall come into force on 19th August 2001.

(2) These Regulations shall have effect in relation to any particular claimant—

(a) in a case where income support is paid to the claimant in arrears in accordance with paragraph 7(1)(i) of Schedule 7 to the Claims and Payments Regulations (date when change of circumstances is to take effect)—

(i) from the first day of the benefit week which includes 26th August 2001; or

(ii) if the claim for income support is for a period commencing after 26th August 2001, from the first day of the first benefit week commencing after 19th August 2001;

(b) in a case where income support is paid to the claimant in advance in accordance with paragraph 7(1)(ii) of Schedule 7 to the Claims and Payments Regulations, from the first day of the first benefit week commencing after 26th August 2001,

and for this purpose, the expressions “claimant” and “benefit week” have the same meaning as in regulation 2(1) of the Income Support Regulations (interpretation).

(3) In these Regulations, “the Claims and Payments Regulations” means the Social Security (Claims and Payments) Regulations 1987 and “the Income Support Regulations ” means the Income Support (General) Regulations 1987 .

Section 2 Amendment of Schedule 3 to the Income Support Regulations

In paragraph 12(1)(a) of Schedule 3 to the Income Support Regulations (standard rate of interest on qualifying loans), for the words “6.94 per cent.” there shall be substituted the words “6.65 per cent.”.

Section 3 Revocation of the Income Support (General) (Standard Interest Rate Amendment) Regulations 2001

The Income Support (General) (Standard Interest Rate Amendment) Regulations 2001 are hereby revoked save that those Regulations shall continue to have effect until the day before the first day of the benefit week having effect in relation to any particular claimant for the purpose of regulation1(2) of these Regulations.